Important information on the Terra v2 snapshots for Prism $LUNA derivative holders
ATTENTION REFRACTORS: Important information on the upcoming Terra snapshots for Prism $LUNA derivative holders.
The governance proposal for a Terra v2 fork has been passed today. The proposal outlines how tokens for Terra v2 will be distributed, details of which can be found here: https://agora.terra.money/t/terra-ecosystem-revival-plan-2-amended/18498
The PRISM vault contained approximately 6m $LUNA at the time of the initial de-peg event on 7th May & over 13m $LUNA currently.
It has been confirmed that holders of $cLUNA & $pLUNA at the snapshot dates will qualify for both the pre-attack $LUNA holders & the post-attack $LUNA holders’ snapshots. This includes any $pLUNA or $cLUNA that was being provided in liquidity pools, $cLUNA in the process of being unbonded & $pLUNA being provided as collateral on Edge Protocol.
Both $cLUNA & $pLUNA will be considered equivalent to 1 $LUNA for the purposes of any snapshot.
Notably $yLUNA has not been included in any snapshot by those indexing for Terra v2. The reasoning behind this is that $yLUNA represents a perpetual entitlement to the yield of $LUNA, whereas $pLUNA represents the underlying ownership of $LUNA, as described in the Prism docs. (https://docs.prismprotocol.app/core-components/tokens/collateral-token-ct)
Getting clarity on these details has been at the forefront of our priorities since the announcement of the Terra v2 proposal & we felt it imperative to get this information available publicly before the post-attack snapshot.
If you have any questions please join our social channels & we will endeavour to provide any further clarity needed.